The man was traced to the capital, where the 2012 Olympics was held, earlier today.
Officers are making inquiries to trace the other athlete.
The team-mates had been reported missing while attending a training camp in Aberdeen. The 26 and 31, were had been preparing at the Aberdeen Sports Village on Wednesday, a week before the opening ceremony.
The Cameroon squad has a total of 47 members.
A Police Scotland spokeswoman said: "We can confirm that one of the athletes reported missing from Aberdeen has been traced safe and well in London. Enquiries are continuing to locate the other athlete."
Several Cameroon athletes competing in London 2012 went missing during that event.